Specific Reserves Sample Clauses
Specific Reserves. A. A specific reserve is established when an outstanding receivable exists and the customer’s payments have ceased due to insolvency or legal dispute. The reserve is determined by evaluating the collectability of the individual debtor’s outstanding receivable. The specific reserve is should be established using management’s best discretion and modified as more information on the financial condition of the debtor or outcome becomes available.
Specific Reserves. The Seller shall not be liable under the Seller Indemnification Obligations for a Loss if and to the extent that any reserve or provision is provided for with specific regard to the facts, circumstances or matters giving rise to the Loss in (i) the relevant Group Company’s 2022 financial statements, or (ii) the Group’s 2022 consolidated financial statements, within the limit of the amount of such specific reserve or provision.